AusCann Group’s chief operating and financial officer appointed joint company secretary

AusCann Group Holdings Ltd (ASX:AC8) has appointed chief operating and financial officer Quentin Megson has been appointed joint company secretary.

He will serve jointly in the role with Susan Hunter, AusCann’s existing company secretary.

Megson joined the medical cannabis company in October 2018 and is an experienced senior executive.

Financial experience

The new joint company secretary has worked in both finance and operational roles for more than 25 years and has held non-executive directorships with several companies.

He holds a Bachelor of Commerce from The University of Western Australia and is a Member of the Institute of Chartered Accountants Australia and New Zealand.

READ: AusCann Group DayaCann joint venture to commence crop cultivation with Khiron

AusCann is an Australian-based pharmaceutical company that aims to produce high-quality, economical and clinically validated cannabinoid medicines.

The company brings together leading expertise and operations across all aspects of the medical cannabis value chain.

This begins with cultivation and production and extends through to manufacture and distribution of products.

READ: AusCann Group acquires R&D facility to develop cannabinoid product pipeline

Last month AusCann acquired a 7,300 square metre research and development (R&D) facility in Perth, Western Australia.

The facility, which was purchased for $5.25 million, will focus on AusCann’s cannabinoid pharmaceutical product pipeline, supporting development of innovative formulations and dose forms.

AusCann will invest up to $6 million over time to customise and fit out the site for use during 2019.

The acquisition and upgrade costs will be funded from AusCann’s cash balance which was more than $40 million prior to the acquisition.

Story by ProactiveInvestors